zillow: Zillow Shuttering its' iBuyer Program
- 11/08/21 06:31 AM
On November 3rd Zillow announced that it would close its' Zillow Offers group. Zillow is closing down their offers program following loses in the third quarter of 2021 of $380 million. Zillow has announced layoffs of 2,000 employees as a result of the division closure. Zillow offers is an example of an iBuyer program. IBuyer programs are "instant" or technology enabled buyers who purchase homes from consumers without placing it on the open market for price discovery. Zillow Offers purchased residential homes based on the popular "Zestimate" pricing algorithm. Homeowners are familiar with zestimates popping up telling them what Zillow thinks their … (1 comments)
On November 3rd Zillow announced that it would close its' Zillow Offers group. Zillow is closing down their offers program following loses in the third quarter of 2021 of $380 million. Zillow has announced layoffs of 2,000 employees as a result of the division closure.
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